HONG KONG--(BUSINESS WIRE)--CHerish Holdings Limited (“CHerish”, together with its subsidiaries, the “Group”; stock code: 2113), announced its successful listing on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) today.
The Company’s Share price closed at HK$0.80 per Share, which was approximately 14% higher than the Offer Price of HK$0.70 per Share. The highest Share price of the day was HK$1.03. On its first trading day, approximately 151 million Shares changed hands with total turnover amounted to approximately HK$118 million.
Dakin Capital Limited is the Sponsor and China Prospect Securities Limited is the Bookrunner of the Share Offer. China Prospect Securities Limited and Dakin Securities Limited are the Joint Lead Managers.
Commenting on the trading debut, Mr. TANG Man On, Chairman of CHerish, said, “The successful listing on the Hong Kong Stock Exchange marks an important milestone of CHerish. It is a proof of the Group’s solid fundamental. The response also shows investors’ confidence in our business development and future prospects. Our goals are to capture greater market share in site formation market, by further strengthening manpower and acquisition of additional machinery and equipment.”
About CHerish Holdings Limited
CHerish mainly performs site formation works in Hong Kong as a subcontractor. The Group has over 14 years of experience in undertaking site formation works in Hong Kong. It provides comprehensive site formation solutions to client, which generally include general earthworks, tunnel excavation works, foundation works and road and drainage works. As part of ancillary services, it also undertakes steel fabrication and installation of steel working platform.
According to the Euromonitor Report, in 2015, the Group held an approximately 7.2% market share among site formation and clearance works subcontractors in Hong Kong.